Russia to continue buying diamonds through state fund in 2025
The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.
Toronto-based Kennady Diamonds is continuing to make progress in the Kennady North diamond project located in Canada’s Northwest Territories.
Patrick Evans, Kennady Diamonds’ CEO, said in Tuesday’s statement the company is making “encouraging progress with the larger diameter drilling underway at the Kelvin kimberlite and have to date recovered over 16 tonnes of the planned 25 tonne mini-bulk sample.”
Approximately 5,500 metres of drilling has been completed at the Kelvin kimberlite so far.
According to Evans, there has been an unusual recovery at site of a high quality white, colourless and transparent diamond measuring approximately one millimetre in diameter.
The project is adjacent to the Gahcho Kué project, located 280 kilometres northeast of Yellowknife. Kennady diamonds plans to move one of the drill rigs currently at Kelvin to Faraday kimberlite corridor, to the west of the Kelvin. Ground geophysics has recently been completed at these targets and are now drill-ready.
The area has shown a significant diamond potential. Margaret Lake Diamonds Inc., Canada’s newest diamond exploration company, commenced trading on the TSX-Venture Exchange last Thursday. The Margaret Lake property is operating immediately to the north of Kennady Diamonds.
